To shade light on my previous text-In a bid to curb on the damage to our climate,all governments signed a legally binding treaty to ensure reduction in Green House gas emissions.Developed countries agreed to reduce their emissions within their countries or by financing projects that reduce emissions and promote sustainable development.The projects would then undergo rigorous validation and verification processes so that for every certified emission reduction the project would earn a credit-refered to as the carbon credit.Developed countries would then buy these credits in order to meet their legally binding targets to reduce emissions on their part. The introduction of the fuel efficient improved cookstove is one avenue of reducing emissions and can earn annual credits/carbon finance.However in all fairness ,a shelved cookstove would not earn the credits!But as the end user replaces it with an inefficient one and continues to use it-they reduce on emissions with in their locality leading to an overall reduction in global emissions.Therefore in my opinion the end user should gain from the leveraged carbon finance. What is happening in most instances now is that all this information on carbon trading and the finance is hidden from the end users who gladly take on an efficient less charcoal requiring stove under an umbrella organisation that is accessing the carbon money from the developed world. As stated ,one certified fuel-efficient cookstove earns 3 carbon credits annually equivalent to about 30USD.If 10,000 cookstoves are distributed by this organisation annually the earned carbon credits will generate 300,000USD Now this is what i term as carbon finance fraud!!!Designing my new placard to wear for my next life on making sure carbon markets work for Africa....all geared up.Hope this note shades more light on the questions i have received in my inbox..good day
Posted on: Tue, 30 Sep 2014 08:17:57 +0000
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